Offering More than Technical Expertise

Source: CPA Trendlines

The following includes excerpts, reproduced with permission, from an article by Rick Telberg.

Technical expertise will take you only so far. And sometimes it can even steer you wrong. At least that's the contention of Leslie Shiner of Mill Valley, California-based The Shiner Group, a leading small business accounting software consultancy.

With technical expertise, she warns, “If the only thing you have is a hammer, then everything looks like a nail.”

True, you can troubleshoot a glitch in the system. And you can make the system operate smoother and more efficiently. But you may have missed an opportunity to engage the client in a conversation about underlying problems in the work processes themselves and the client's own personal goals for his or her business, department, or career.

To help small-business-oriented accounting firms break out of the software break-fix cycle, Shiner offers a couple of simple but potentially profound exercises. She starts with a self-assessment worksheet that helps accounting firms inventory their hidden potential. Take small-business accounting for example, like QuickBooks or Peachtree, then rate yourself on your level of expertise against the revenue potential of the related services. Then try it by industry niche — retail, manufacturing, construction, and so on. Then run through your basic tax and accounting services, bookkeeping, and payroll.

Once you've gone that far, start thinking about a higher order of business services: financial coaching, strategic planning, process mapping, exit-strategy planning, personal wealth planning, and maybe grant writing or even paperwork management.

“Look at the lines with high-revenue potential,” she advises. “What would it take to increase your knowledge? Where are the business opportunities?”

By the time you're done, you may have discovered a new way of looking at your own business and maybe even your own future.

For the complete article, read “Why Accounting Alone Isn't Enough.”

From CPA Trendlines, http://cpatrendlines.com, November 8, 2010.